Economics
Refers to the economic problem of having limited resources with unlimited wants
What is scarcity
Things that people must have to survive
What are needs
Things that people would like to have but can live without
What are wants
The direct trading of goods and services between people without the use of money
What is barter
A store receives 1000 rolls of toilet paper and 200 people need it. What is the economic term for the amount of product?
What is a surplus?
He has the most followers on Instagram.
Who is Cristiano Ronaldo?
I die at the end of the final Avengers movie.
Who is Iron Man (Tony Stark)?
Someone who buys goods and services
What is a consumer
Actions done for others in exchange for payment
What are services
Tangible items that people consume or use
What are goods
Goods and services purchased from the overseas sector
What is imports
This measures the total income of every person and the total spending on the outcomes of goods and services.
What is GDP?
Facebook acquired Instagram in what year?
A. 2011
B. 2012
C. 2020
D. 2018
What is 2011?
Who died in Peter Parker's family?
Who is Uncle Ben?
This is the social science that studies the production, distribution, and consumption of goods and services.
What is economics?
The study of how individuals, governments and business make choices about allocating scare resources
What is economics
The effort people contribute to the production of goods and services
What is labour
When workers produce more, what happens to the price?
What is go down?
This is an organisation engaged in the trade of goods and services to consumers.
What is a business
What event made TikTok a viral platform?
What is the pandemic?
What alias did Black Widow use as Tony Stark's Assistant in Iron Man 2?
What is Natasha Romanoff?
Economic system in which the government controls and sets prices
What is command/planned economy
When an item leaves a country it is called this.
What is an export?
Economic system in which barter is used, and agriculture is the main employment
What is a traditional economy
The three basic economic questions each country must ask when developing the economic plan
1) What goods/services will be produced?
2) How will goods/services be produced?
3) Who will consume the goods/services / how to distribute?
The four main types of economic systems
What is
1) traditional economy
2) command/planned economy
3) market economy
4) mixed market economy
What is not a hashtag trending right now on TikTok?
A. #DeserveADrPepperDuet
B. #TipTok
C. #DoorsVsWheels
D. #StPatricksDay
What is #DoorsVsWheels
This character has laser beams that shoot out of its eye.
Who is Cyclops?
In a communist country, they own the property.
What is the government?
The economic system in which individuals/businesses decide what, how, and how much will be produced/sold
What is a market economy
Change in cost of items over a period of time.
What is inflation?
A system that protects private property and allows a level of economic freedom, but also allows for governments to interfere in economic activities in order to achieve social aims.
What is a Mixed Market Economy
This term analyses the way the world works by comparing the costs of any activity with the benefits generated by the activity
What is economic thinking
As of January 2022, TikTok has ___ monthly active users.
A. 500 million
B. 800 million
C. 200 million
D. 1 billion
What is 1 billion?
The amount of infinity stones.
What are six?